Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Jun. 30, 2014 | Sep. 30, 2013 | |
Document And Entity Information | ' | ' | ' |
Entity Registrant Name | 'PETROTERRA CORP. | ' | ' |
Entity Central Index Key | '0001463208 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Mar-14 | ' | ' |
Amendment Flag | 'false | ' | ' |
Current Fiscal Year End Date | '--03-31 | ' | ' |
Is Entity a Well-known Seasoned Issuer? | 'No | ' | ' |
Is Entity a Voluntary Filer? | 'No | ' | ' |
Is Entity's Reporting Status Current? | 'Yes | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Public Float | ' | ' | $0 |
Entity Common Stock, Shares Outstanding | ' | 64,249,000 | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Balance_Sheets
Balance Sheets (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Current assets | ' | ' |
Cash | $9,037 | ' |
Total current assets | 9,037 | 0 |
Oil & Gas Exploration | 450,000 | ' |
Fixed Assets, net of accumulated depreciation of $177 and $0 as of March 31, 2014 and 2013, respectively | 1,423 | ' |
Website, net of accumulated amortization of $2,734 and $0, respectively | 27,069 | ' |
Total Assets | 487,529 | 0 |
Current Liabilities: | ' | ' |
Accounts payable | 22,873 | 5,585 |
Accrued liabilities | 14,688 | ' |
Accrued liabilities, director | 15,000 | ' |
Notes payable, related-party | 10,118 | 44,690 |
Total current liabilities | 62,679 | 50,275 |
Total liabilities | 62,679 | 50,275 |
Shareholders' Deficiency | ' | ' |
Preferred Stock: $0.001 par value, 10,000,000 shares authorized; no shares issues and outstanding as of March 31, 2014 and 2013. | ' | ' |
Common stock; $0.001 par value, 100,000,000 shares authorized; 63,699,000 and 53,024,000 shares issued and outstanding as of March 31, 2014 and March 31, 2013, respectively | 63,699 | 53,024 |
Additional paid-in-capital | 634,786 | -31,064 |
Common stock payable | 90,000 | ' |
Deficit accumulated during the development stage | -363,635 | -72,235 |
Total shareholders' equity (deficiency) | 424,850 | -50,275 |
Total liabilities and shareholders' equity (deficiency) | $487,529 | $0 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Statement of Financial Position [Abstract] | ' | ' |
Fixed Assets, net of accumulated depreciation | $177 | $0 |
Website, net of accumulated amortization | $2,734 | $0 |
Preferred Stock, par value | $0.00 | $0.00 |
Preferred Stock, authorized | 10,000,000 | 10,000,000 |
Preferred Stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 63,699,000 | 53,024,000 |
Common Stock, shares outstanding | 63,699,000 | 53,024,000 |
Statements_of_Operations
Statements of Operations (USD $) | 12 Months Ended | 68 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
EXPENSES | ' | ' | ' |
Lease property and exploration costs | $50,945 | ' | $50,945 |
General and administrative expenses | 91,891 | 15,387 | 163,966 |
Professional fees | 111,064 | ' | 111,064 |
Stock compensation expense | 37,500 | 160 | 37,660 |
Net loss from Operation before Taxes | -291,400 | -15,547 | -363,635 |
PROVISION FOR INCOME TAXES | 0 | 0 | ' |
NET LOSS | ($291,400) | ($15,547) | ($363,635) |
(LOSS) PER COMMON SHARE-BASIC AND DILUTED | ($0.01) | $0 | ' |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING | 58,142,630 | 53,024,000 | ' |
Statements_of_Stockholders_Equ
Statements of Stockholders' Equity (Deficiency) (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Common Stock Payable [Member] | Accumulated Deficit During Exploration [Member] | Total |
Beginning Balance at Aug. 24, 2008 | ' | ' | ' | ' | ' |
Common stock issued for cash at $0.0000625 on November 28, 2008 | $14,400 | ($13,500) | ' | ' | $900 |
Common stock issued for cash at $0.0000625 on November 28, 2008, shares | 14,400,000 | ' | ' | ' | ' |
Common stock issued for cash at $0.0000625 on December 5, 2008 | 32,000 | -30,000 | ' | ' | 2,000 |
Common stock issued for cash at $0.0000625 on December 5, 2008, shares | 32,000,000 | ' | ' | ' | ' |
Common stock issued for cash at $0.0000625 on March 19, 2009 | 30,240 | -11,340 | ' | ' | 18,900 |
Common stock issued for cash at $0.0000625 on March 19, 2009, shares | 30,240,000 | ' | ' | ' | ' |
Net (loss) | ' | ' | ' | -1,238 | -1,238 |
Ending Balance at Mar. 31, 2009 | 76,640 | -54,840 | ' | -1,238 | 20,562 |
Ending Balance, Shares at Mar. 31, 2009 | 76,640,000 | ' | ' | ' | ' |
Net (loss) | ' | ' | ' | -27,699 | -27,699 |
Ending Balance at Mar. 31, 2010 | 76,640 | -54,840 | ' | -28,937 | -7,137 |
Ending Balance, Shares at Mar. 31, 2010 | 76,640,000 | ' | ' | ' | ' |
Net (loss) | ' | ' | ' | -10,436 | -10,436 |
Ending Balance at Mar. 31, 2011 | 76,640 | -54,840 | ' | -39,373 | -17,573 |
Beginning Balance, Shares at Mar. 31, 2011 | 76,640,000 | ' | ' | ' | ' |
Common shares cancelled | -23,872 | 23,872 | ' | ' | ' |
Common shares cancelled, shares | -23,872,000 | ' | ' | ' | ' |
Common stock issued for services | 256 | -96 | ' | ' | 160 |
Common stock issued for services, shares | 256,000 | ' | ' | ' | ' |
Net (loss) | ' | ' | ' | -17,315 | -17,315 |
Ending Balance at Mar. 31, 2012 | 53,024 | -31,064 | ' | -56,688 | -34,728 |
Ending Balance, Shares at Mar. 31, 2012 | 53,024,000 | ' | ' | ' | ' |
Services payable in common stock at $0.75 | ' | ' | ' | ' | ' |
Common stock issued for services | ' | ' | ' | ' | ' |
Net (loss) | ' | ' | ' | -15,547 | -15,547 |
Ending Balance at Mar. 31, 2013 | 53,024 | -31,064 | ' | -72,235 | -50,275 |
Ending Balance, Shares at Mar. 31, 2013 | 53,024,000 | ' | ' | ' | ' |
Common shares issued in exchange of debt | 10,000 | 41,525 | ' | ' | 51,525 |
Common shares issued in exchange of debt, shares | 10,000,000 | ' | ' | ' | ' |
Common shares issued for cash at $1.00 on November 1, 2013 | 75 | 74,925 | ' | ' | 75,000 |
Common shares issued for cash at $1.00 on November 1, 2013, shares | 75,000 | ' | ' | ' | ' |
Common shares issued for acquisition of land lease at $1.00 on November 20, 2013 | 250 | 249,750 | ' | ' | 250,000 |
Common shares issued for acquisition of land lease at $1.00 on November 20, 2013, shares | 250,000 | ' | ' | ' | ' |
Common shares issued for cash at $1.00 on December 19, 2013 | 150 | 149,850 | ' | ' | 150,000 |
Common shares issued for cash at $1.00 on December 19, 2013, shares | 150,000 | ' | ' | ' | ' |
Common shares issued for cash at $0.75 on February 14, 2014 | 200 | 149,800 | ' | ' | 150,000 |
Common shares issued for cash at $0.75 on February 14, 2014, shares | 200,000 | ' | ' | ' | ' |
Common stock payable for private placement proceeds | ' | ' | 52,500 | ' | 52,500 |
Services payable in common stock at $0.75 | ' | ' | 37,500 | ' | 37,500 |
Common stock issued for services | ' | ' | ' | ' | ' |
Net (loss) | ' | ' | ' | -291,400 | -291,400 |
Ending Balance at Mar. 31, 2014 | $63,699 | $634,786 | $90,000 | ($363,635) | $424,850 |
Ending Balance, Shares at Mar. 31, 2014 | 63,699,000 | ' | ' | ' | ' |
Statements_of_Stockholders_Equ1
Statements of Stockholders' Equity (Deficiency) (Parenthetical) (USD $) | 8 Months Ended | 12 Months Ended |
Mar. 31, 2009 | Mar. 31, 2014 | |
Statement of Stockholders' Equity [Abstract] | ' | ' |
Common stock issued during period, per share | $0.00 | $1 |
Common stock issued during period, per share | $0.00 | $1 |
Common stock issued during period, per share | $0.00 | $1 |
Common stock issued during period, per share | ' | $0.75 |
Common stock issued during period, per share | ' | $0.75 |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 12 Months Ended | 68 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
OPERATING ACTIVITIES | ' | ' | ' |
Net income (loss) | ($291,400) | ($15,547) | ($363,635) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ' | ' | ' |
Services payable in common stock | 37,500 | ' | 37,500 |
Common stock issued for services | ' | ' | 160 |
Depreciation and amortization | 2,911 | ' | 2,911 |
Increase (decrease) in: | ' | ' | ' |
Accounts payable | 17,288 | 3,490 | 22,873 |
Accrued expenses | 14,688 | ' | 14,688 |
Related Party Loans - paid directly to vendors on behalf of the Company | 16,953 | 12,025 | 41,143 |
Accrued payroll, officer | 15,000 | ' | 15,000 |
Net cash used in operating activities | -187,060 | -32 | -229,360 |
INVESTING ACTIVITIES | ' | ' | ' |
Investment in Oil & Gas Exploration | -200,000 | ' | -200,000 |
Investment in fixed assets and website | -31,403 | ' | -31,403 |
Net cash used in investing activities | -231,403 | ' | -231,403 |
FINANCING ACTIVITIES | ' | ' | ' |
Loans from director | ' | ' | 20,500 |
Sales of Common stock | 375,000 | ' | 396,800 |
Common stock payable | 52,500 | ' | 52,500 |
Net cash provided by financing activities | 427,500 | 0 | 469,800 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 9,037 | -32 | 9,037 |
CASH AND CASH EQUIVALENTS-BEGINNING OF PERIOD | ' | 32 | ' |
CASH AND CASH EQUIVALENTS-END OF PERIOD | 9,037 | ' | 9,037 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ' | ' | ' |
Cash paid for interest | ' | ' | ' |
Cash paid for taxes | ' | ' | ' |
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ' | ' | ' |
Common stock issued for services | 37,500 | ' | 37,660 |
Common stock issued upon conversion of notes payable | $51,525 | ' | $51,525 |
Organization_and_Business_Oper
Organization and Business Operations | 12 Months Ended |
Mar. 31, 2014 | |
Organization And Business Operations | ' |
Organization and Business Operations | ' |
1. ORGANIZATION AND BUSINESS OPERATIONS | |
PetroTerra Corp. (the “Company”) was incorporated under the laws of the State of Nevada, on July 25, 2008. The Company is in the development stage as defined under Accounting Codification Standard or ACS, Development Stage Entities (“ASC-915”) and plans to identify, evaluate and acquire oil and gas exploration and development opportunities primarily within the United States. The Company has not generated any revenue to date and consequently its operations are subject to all risks inherent in the establishment of a new business enterprise. For the period from inception on July 25, 2008 through March 31, 2014, the Company has accumulated losses of $363,635. |
Going_Concern
Going Concern | 12 Months Ended |
Mar. 31, 2014 | |
Going Concern | ' |
Going Concern | ' |
2. GOING CONCERN | |
The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses since inception resulting in an accumulated deficit of $363,635 as of March 31, 2014 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities which have arisen from normal business operations as they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand loans from our director and/or private placements of common stock. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||
Mar. 31, 2014 | |||
Accounting Policies [Abstract] | ' | ||
Summary of Significant Accounting Policies | ' | ||
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||
Basis of Presentation | |||
The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. | |||
These statements reflect all adjustments, including of normal recurring adjustments, which, in the opinion of management, are necessary for fair presentation of the information contained therein. | |||
Development Stage Activities | |||
The Company is a development stage enterprise. All losses accumulated since the inception of the Company have been considered as part of the Company’s development stage activities. | |||
Cash and Cash Equivalents | |||
The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. | |||
Use of Estimates and Assumptions | |||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In management’s opinion, all adjustments necessary for a fair statement of the results for the interim periods have been made and all adjustments are of a normal recurring nature. | |||
Foreign Currency Translation | |||
The Company’s functional currency and its reporting currency is the United States dollar. | |||
Stock Split | |||
On December 18, 2013, the Company filed a Certificate of Change with the Secretary of State of the State of Nevada to effect a reverse stock split of its outstanding and authorized shares of common stock at a ratio of 1 for 2 (the “Reverse Stock Split”). | |||
As a result of the Reverse Stock Split, the Company’s authorized shares of common stock were decreased from 200,000,000 to 100,000,000 shares and its authorized shares of preferred stock were decreased from 20,000,000 to 10,000,000 shares. Upon the effectiveness of the Reverse Stock Split, which occurred on December 20, 2013, the Company’s issued and outstanding shares of common stock was decreased from 126,698,000 to 63,349,000 shares, all with a par value of $0.001. The Company has no outstanding shares of preferred stock. Accordingly, all share and per share information has been restated to retroactively show the effect of the Reverse Stock Split. | |||
Stock-based Compensation | |||
In September 2009, the FASB issued ASC-718, “Stock Compensation”. ASC-718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on the grant date fair value of the award. Under ASC-718, the Company must determine the appropriate fair value model to be used for valuing share-based payments, the amortization method for compensation cost and the transition method to be used at date of adoption. | |||
Income Taxes | |||
Income taxes are accounted for under the assets and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating losses and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. | |||
Basic and Diluted Loss Per Share | |||
The Company computes loss per share in accordance with ASC-260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of outstanding shares of common stock during the period. Diluted loss per share gives effect to all dilutive potential shares of common stock outstanding during the period. Dilutive loss per share excludes all potential shares of common stock if their effect is anti-dilutive. The Company has no potential dilutive instruments and accordingly basic loss and diluted loss per share are equal. | |||
Fiscal Periods | |||
The Company’s fiscal year end is March 31. | |||
Recent accounting pronouncements | |||
We have reviewed all the recent accounting pronouncements issued to date, and we do not believe any of these pronouncements will have a material impact on the Company. | |||
Revenue Recognition | |||
The Company will recognize revenue in accordance with ACS - 605, “Revenue recognition”, ASC-605 requires that four basic criteria be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management’s judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. | |||
Oil and Gas | |||
The Company complies with ASC 932, “Extractive Activities - Oil and Gas”. The Company has capitalized exploratory well costs, and has determined that there are no suspended well costs that should be impaired. The Company reviews its long-lived assets for impairments when events or changes in circumstances indicate that impairment may have occurred. | |||
Website | |||
The Company capitalizes the costs associated with the development of the Company’s website pursuant to ASC - 350, “Goodwill and Other”. Other costs related to the maintenance of the website are expensed as incurred. Amortization is provided over the estimated useful lives of three years using the straight-line method for financial statement purposes. The Company commenced amortization upon completion of the Company’s fully operational website. Amortization expense for the year ended March 31, 2014 and 2013 totaled $542 and $0, respectively. | |||
Property and Equipment | |||
Property and equipment are carried at cost. Expenditures for major renewals and betterments that extend the useful lives of property and equipment are capitalized. Expenditures for maintenance and repairs are charged to expense as incurred. Depreciation and amortization of property and equipment is provided using the straight-line method for financial reporting purposes at rates based on the following estimated useful lives: | |||
Classification | Useful Life | ||
Computer equipment | 3 Years | ||
Website design | 3 Years | ||
Patents and trademarks | 15 Years | ||
Equipment | |||
Equipment is recorded at cost. Depreciation is computed for financial reporting purposes utilizing the straight-line method over the estimated useful lives of the related asset. | |||
Advertising | |||
The Company follows the policy of charging the costs of advertising to expenses incurred. The Company incurred $0 in advertising costs during the period July 25, 2008 (inception) to March 31, 2014. |
Acquisition_of_Oil_and_Gas_Pro
Acquisition of Oil and Gas Properties | 12 Months Ended |
Mar. 31, 2014 | |
Business Combinations [Abstract] | ' |
Acquisition of Oil and Gas Properties | ' |
4. ACQUISITION OF OIL AND GAS PROPERTIES | |
On November 18, 2013, the Company entered into an assignment of lease (the “Agreement”) whereby Ardmore Investments Inc. (“Ardmore”) assigned to the Company its rights under a certain purchase agreement (the “Purchase Agreement”), dated August 8, 2013, between Ardmore and Pioneer Oil and Gas (“Pioneer”) involving the sale of 5,905.54 acres of oil and gas leases located in the Central Utah Thrust Belt in Beaver County and Sevier County, Utah and currently owned by Pioneer (the “Leases”). Per the terms of the Agreement, we issued to Ardmore 250,000 shares of our common stock on November 18, 2013, and, in order to complete the assignment contemplated by the Agreement, we will issue to Ardmore an additional 250,000 shares of our common stock upon the transfer to us of ownership in the Leases which must occur on or before April 12, 2014. Furthermore, on December 12, 2013 and February 12, 2014, the Company made two installment payments of $100,000 each to Pioneer with an additional $100,000 installment payment required on April 12, 2014. Upon completion of the final installment the leases were conveyed to the Company. | |
Due to the lack of an active market of the Company’s common stock, the fair value of the common stock transferred was determined based on the price at which the Company’s shares were being sold in a private placement active during the time period. |
Common_Stock
Common Stock | 12 Months Ended |
Mar. 31, 2014 | |
Equity [Abstract] | ' |
Common Stock | ' |
5. COMMON STOCK | |
The Company’s authorized capital consist of 100,000,000 shares of common stock and 10,000,000 shares of preferred stock, both with a par value of $0.001 per share. | |
This gives effect to the Company 32 for 1 forward stock split that was effected on January 3, 2012 and the Company’s subsequent Reverse Stock Split. All share and per share information has been restated in this Report to retroactively show the effect of the two stock splits. | |
On December 18, 2013, the Company effectuated a reverse stock split of its outstanding and authorized shares of common stock at a ratio of 1 for 2. As a result of the Reverse Stock Split, the Company’s authorized shares of common stock were decreased from 200,000,000 to 100,000,000 shares and its authorized shares of preferred stock were decreased from 20,000,000 to 10,000,000 shares. Upon the effectiveness of the Reverse Stock Split, which occurred on December 20, 2013, the Company’s issued and outstanding shares of common stock was decreased from 126,698,000 to 63,349,000 shares, all with a par value of $0.001. The Company has no outstanding shares of preferred stock. Accordingly, all share and per share information has been restated to retroactively show the effect of the Reverse Stock Split. | |
On November 28, 2008, the Company issued 14,400,000 reverse split shares of common stock at a price of $0.0000625 per share for total cash proceeds of $900. | |
On December 4, 2008, the Company issued 32,000,000 reverse split shares of common stock at a price of $0.0000625 per share for total cash proceeds of $2,000. | |
During the period December 10, 2008 to March 19, 2009, the Company issued 30,240,000 reverse split shares of common stock at a price of $0.000625 per share for total cash proceeds of $18,900. | |
On December 14, 2011, in connection with a change in the Company’s directors, two controlling stockholders cancelled an aggregate of 23,872,000 shares of common stock. On the same day, 256,000 shares of common stock were issued to a director for services rendered. The common stock was valued at $0.000625 per share. | |
On October 2, 2013, John Barton purchased 43.0% of the issued and outstanding shares of the Company from previous stockholders. Concurrently with Mr. Barton’s purchase, the Board of Directors of the Company determined that it was in the best interest of the Company to settle a portion of an outstanding loan from Mr. Barton to the Company in the period ending March 31, 2014. In exchange for the settlement of the outstanding debt, the Company issued Mr. Barton 10,000,000 shares of common stock. Upon completion of the above transactions, Mr. Barton became the beneficial owner of 52.01% of the issued and outstanding shares of common stock of the Company. | |
On November 1, 2013, the Company sold a total of 75,000 shares of common stock for gross proceeds of $75,000. | |
On November 20, 2013, the Company issued 250,000 shares of common stock in conjunction with a land lease assignment with a value of $250,000. | |
On December 19, 2013, the Company sold a total of 150,000 shares of common stock for gross proceeds of $150,000. | |
On February 14, 2014, the Company sold a total of 200,000 shares of common stock for gross proceeds of $150,000. | |
On March 10, 2014, the Company entered into a private placement for 100,000 shares of common stock for gross proceeds of $75,000. On March 10, 2014 and March 25, 2014, the Company received $52,500 of the proceeds, however, the remaining $22,500 was received on April 24, 2014, wherein, the Company issued the shares. As the March 31, 2014, the $52,500 is recorded to common stock payable. | |
On March 6, 2014, the Company authorized the issuance of 50,000 shares of common stock to a third party entity for consulting services. The fair value of the shares of common stock was $37,500. As the March 31, 2014, the $37,500 is recorded to common stock payable. | |
As of and March 31, 2014, the Company had 63,699,000 shares of common stock issued and outstanding. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Income Taxes | ' | ||||||||
6. INCOME TAXES | |||||||||
As of March 31, 2014, the Company had net operating loss carry forwards of approximately $363,635 that may be available to reduce future years’ taxable income through 2034. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur. Accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. | |||||||||
Deferred tax liabilities and assets are recognized for the expected future tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse | |||||||||
A reconciliation of tax expense computed at the statutory federal tax rate income (loss) from operations before income taxes to the actual income tax expense is as follows: | |||||||||
2014 | 2013 | ||||||||
Tax provision (benefits) computed at the statutory rate | $ | (108,000 | ) | $ | (21,000 | ) | |||
Nondeductible expense | (700 | ) | - | ||||||
(107,300 | ) | (21,000 | ) | ||||||
Increase in valuation allowance for deferred tax assets | 107,300 | 21,000 | |||||||
Income tax expense benefit | $ | — | $ | — | |||||
Deferred income taxes include the net tax effects of net operating loss (NOL) carry forwards and the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets are as follows: | |||||||||
2014 | 2013 | ||||||||
Stock based compensation | $ | 13,900 | $ | - | |||||
Net operating loss carryover | 120,200 | 26,800 | |||||||
Total deferred tax assets | 134,100 | 26,800 | |||||||
Valuation allowance | (134,100 | ) | (26,800 | ) | |||||
Net deferred tax assets | $ | — | $ | — | |||||
The Company has provided a valuation reserve against the full amount of the net deferred tax assets, because in the opinion of management, it is more likely than not that these tax assets will not be realized. | |||||||||
The Company’s NOL and tax credit carryovers may be significantly limited under the Internal Revenue Code (IRC). NOL and tax credit carryovers are limited under Section 382 when there is a significant “ownership change” as defined in the IRC. During the fiscal year ended March 31, 2014 and in prior years, the Company may have experienced such ownership changes, which could impose such limitations. | |||||||||
The limitation imposed by the IRC would place an annual limitation on the amount of NOL and tax credit carryovers that can be utilized. When the Company completes the necessary studies, the amount of NOL carryovers available may be reduced significantly. However, since the valuation allowance fully reserves for all available carryovers, the effect of the reduction would be offset by a reduction in the valuation allowance. | |||||||||
The company files income tax returns in the U.S. federal jurisdiction, and the State of Colorado. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Mar. 31, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
7. RELATED PARTY TRANSACTIONS | |
The Company has received advances from certain of its officers and other related parties to meet short term working capital needs. These advances may not have formal repayment terms or arrangements. As of March 31, 2014 and March 31, 2013, the total amount loaned to the Company by a director was $10,118 and $44,690, respectively. The loan is non-interest bearing, due upon demand and unsecured. | |
On October 2, 2013, the Company settled an outstanding loan with a principal amount of $51,525 by exchanging 10,000,000 shares of common stock for conversion of outstanding debt of $20,000 due to the Company’s chief executive officer and the remaining $31,525 of outstanding debt due to the previous chief executive officer was extinguished to Additional paid-in capital. | |
For the period from October 2, 2013 through March 31, 2014, the Company has paid its chief executive officer $45,000 in compensation and he has accrued an additional $15,000. | |
The Company has an employment agreement with the Company President whereby the Company provides for compensation of $10,000 per month. A total salary of $15,000 and $0 was accrued and reflected as an expense during the years ended March 31, 2014 and 2013, respectively. The total balance due to the President for accrued salaries at March 31, 2014 and 2013, was $15,000 and $0, respectively. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Mar. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
8. COMMITMENTS AND CONTINGENCIES | |
Land Lease Agreements | |
As detailed in the “Acquisition of Oil and Gas Properties” - Note 4, the Company is obligated to issue Ardmore Investments an additional 250,000 shares of common stock upon the transfer of ownership of the Leases on or before April 12, 2014. Furthermore, an installment payment is due to Pioneer in the amount of $100,000 on April 12, 2014. Upon completion of the final installment the leases will be conveyed to the Company. |
Subsequent_Event
Subsequent Event | 12 Months Ended |
Mar. 31, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Event | ' |
9. SUBSEQUENT EVENT | |
The Company has evaluated subsequent events from March 31, 2014 through the filing of these financial statements. There are no significant subsequent events, except as disclosed below; | |
Securities Purchase Agreement | |
On March 7, 2014, the Company entered into securities purchase agreement with an investor pursuant to Regulation S promulgated under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to which the Company sold an aggregate of 100,000 shares of the Company’s common stock for gross proceeds of $75,000. As the March 31, 2014, $52,500 of the agreement is recorded to common stock payable until the securities purchase agreement was completed in April 2014. | |
On April 10, 2014, the Company entered into securities purchase agreement with an investor pursuant to Regulation S promulgated under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to which the Company sold an aggregate of 200,000 shares of the Company’s common stock for gross proceeds of $150,000. | |
Land lease installment | |
The Company made an installment payment of $100,000 to Pioneer on April 10, 2014 as detailed in the “Acquisition of Oil and Gas Properties” - Note 4. | |
On April 12, 2014, the Company issued to Ardmore 250,000 shares of our common stock in order to complete the assignment. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||
Mar. 31, 2014 | |||
Accounting Policies [Abstract] | ' | ||
Basis of Presentation | ' | ||
Basis of Presentation | |||
The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. | |||
These statements reflect all adjustments, including of normal recurring adjustments, which, in the opinion of management, are necessary for fair presentation of the information contained therein. | |||
Development Stage Activities | ' | ||
Development Stage Activities | |||
The Company is a development stage enterprise. All losses accumulated since the inception of the Company have been considered as part of the Company’s development stage activities. | |||
Cash and Cash Equivalents | ' | ||
Cash and Cash Equivalents | |||
The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. | |||
Use of Estimates and Assumptions | ' | ||
Use of Estimates and Assumptions | |||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In management’s opinion, all adjustments necessary for a fair statement of the results for the interim periods have been made and all adjustments are of a normal recurring nature. | |||
Foreign Currency Translation | ' | ||
Foreign Currency Translation | |||
The Company’s functional currency and its reporting currency is the United States dollar. | |||
Stock Split | ' | ||
Stock Split | |||
On December 18, 2013, the Company filed a Certificate of Change with the Secretary of State of the State of Nevada to effect a reverse stock split of its outstanding and authorized shares of common stock at a ratio of 1 for 2 (the “Reverse Stock Split”). | |||
As a result of the Reverse Stock Split, the Company’s authorized shares of common stock were decreased from 200,000,000 to 100,000,000 shares and its authorized shares of preferred stock were decreased from 20,000,000 to 10,000,000 shares. Upon the effectiveness of the Reverse Stock Split, which occurred on December 20, 2013, the Company’s issued and outstanding shares of common stock was decreased from 126,698,000 to 63,349,000 shares, all with a par value of $0.001. The Company has no outstanding shares of preferred stock. Accordingly, all share and per share information has been restated to retroactively show the effect of the Reverse Stock Split. | |||
Stock-based Compensation | ' | ||
Stock-based Compensation | |||
In September 2009, the FASB issued ASC-718, “Stock Compensation”. ASC-718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on the grant date fair value of the award. Under ASC-718, the Company must determine the appropriate fair value model to be used for valuing share-based payments, the amortization method for compensation cost and the transition method to be used at date of adoption. | |||
Income Taxes | ' | ||
Income Taxes | |||
Income taxes are accounted for under the assets and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating losses and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. | |||
Basic and Diluted Loss Per Share | ' | ||
Basic and Diluted Loss Per Share | |||
The Company computes loss per share in accordance with ASC-260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of outstanding shares of common stock during the period. Diluted loss per share gives effect to all dilutive potential shares of common stock outstanding during the period. Dilutive loss per share excludes all potential shares of common stock if their effect is anti-dilutive. The Company has no potential dilutive instruments and accordingly basic loss and diluted loss per share are equal. | |||
Fiscal Periods | ' | ||
Fiscal Periods | |||
The Company’s fiscal year end is March 31. | |||
Recent Accounting Pronouncements | ' | ||
Recent accounting pronouncements | |||
We have reviewed all the recent accounting pronouncements issued to date, and we do not believe any of these pronouncements will have a material impact on the Company. | |||
Revenue Recognition | ' | ||
Revenue Recognition | |||
The Company will recognize revenue in accordance with ACS - 605, “Revenue recognition”, ASC-605 requires that four basic criteria be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management’s judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. | |||
Oil and Gas | ' | ||
Oil and Gas | |||
The Company complies with ASC 932, “Extractive Activities - Oil and Gas”. The Company has capitalized exploratory well costs, and has determined that there are no suspended well costs that should be impaired. The Company reviews its long-lived assets for impairments when events or changes in circumstances indicate that impairment may have occurred. | |||
Website | ' | ||
Website | |||
The Company capitalizes the costs associated with the development of the Company’s website pursuant to ASC - 350, “Goodwill and Other”. Other costs related to the maintenance of the website are expensed as incurred. Amortization is provided over the estimated useful lives of three years using the straight-line method for financial statement purposes. The Company commenced amortization upon completion of the Company’s fully operational website. Amortization expense for the year ended March 31, 2014 and 2013 totaled $542 and $0, respectively. | |||
Property and Equipment | ' | ||
Property and Equipment | |||
Property and equipment are carried at cost. Expenditures for major renewals and betterments that extend the useful lives of property and equipment are capitalized. Expenditures for maintenance and repairs are charged to expense as incurred. Depreciation and amortization of property and equipment is provided using the straight-line method for financial reporting purposes at rates based on the following estimated useful lives: | |||
Classification | Useful Life | ||
Computer equipment | 3 Years | ||
Website design | 3 Years | ||
Patents and trademarks | 15 Years | ||
Equipment | ' | ||
Equipment | |||
Equipment is recorded at cost. Depreciation is computed for financial reporting purposes utilizing the straight-line method over the estimated useful lives of the related asset. | |||
Advertising | ' | ||
Advertising | |||
The Company follows the policy of charging the costs of advertising to expenses incurred. The Company incurred $0 in advertising costs during the period July 25, 2008 (inception) to March 31, 2014. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||
Mar. 31, 2014 | |||
Accounting Policies [Abstract] | ' | ||
Estimated Useful Life of Property and Equipment | ' | ||
Depreciation and amortization of property and equipment is provided using the straight-line method for financial reporting purposes at rates based on the following estimated useful lives: | |||
Classification | Useful Life | ||
Computer equipment | 3 Years | ||
Website design | 3 Years | ||
Patents and trademarks | 15 Years |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Reconciliation of Tax Expense Computed at Statutory Federal Tax Rate | ' | ||||||||
A reconciliation of tax expense computed at the statutory federal tax rate income (loss) from operations before income taxes to the actual income tax expense is as follows: | |||||||||
2014 | 2013 | ||||||||
Tax provision (benefits) computed at the statutory rate | $ | (108,000 | ) | $ | (21,000 | ) | |||
Nondeductible expense | (700 | ) | - | ||||||
(107,300 | ) | (21,000 | ) | ||||||
Increase in valuation allowance for deferred tax assets | 107,300 | 21,000 | |||||||
Income tax expense benefit | $ | — | $ | — | |||||
Significant Components of Deferred Tax Assets | ' | ||||||||
Significant components of the Company’s deferred tax assets are as follows: | |||||||||
2014 | 2013 | ||||||||
Stock based compensation | $ | 13,900 | $ | - | |||||
Net operating loss carryover | 120,200 | 26,800 | |||||||
Total deferred tax assets | 134,100 | 26,800 | |||||||
Valuation allowance | (134,100 | ) | (26,800 | ) | |||||
Net deferred tax assets | $ | — | $ | — |
Organization_and_Business_Oper1
Organization and Business Operations (Details Narrative) (USD $) | 7 Months Ended | 12 Months Ended | 68 Months Ended | ||||
Mar. 31, 2009 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2011 | Mar. 31, 2010 | Mar. 31, 2014 | |
Organization And Business Operations | ' | ' | ' | ' | ' | ' | ' |
Accumulated losses | $1,238 | $291,400 | $15,547 | $17,315 | $10,436 | $27,699 | $363,635 |
Going_Concern_Details_Narrativ
Going Concern (Details Narrative) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Going Concern | ' | ' |
Accumulated deficit | $363,635 | $72,235 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details Narrative) (USD $) | 0 Months Ended | 12 Months Ended | 68 Months Ended | ||
Dec. 18, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Dec. 20, 2013 | |
Reverse stock split | 'ratio of 1 for 2 | ' | ' | ' | ' |
Common stock, shares authorized | ' | 100,000,000 | 100,000,000 | 100,000,000 | ' |
Preferred stock, shares authorized | ' | 10,000,000 | 10,000,000 | 10,000,000 | ' |
Common stock, shares outstanding | ' | 63,699,000 | 53,024,000 | 63,699,000 | ' |
Common stock, shares issued | ' | 63,699,000 | 53,024,000 | 63,699,000 | ' |
Common stock, par value | ' | $0.00 | $0.00 | $0.00 | $0.00 |
Amortization expense | ' | $542 | $0 | ' | ' |
Advertising cost | ' | ' | ' | $0 | ' |
Maximum [Member] | ' | ' | ' | ' | ' |
Common stock, shares authorized | ' | 200,000,000 | ' | 200,000,000 | ' |
Preferred stock, shares authorized | ' | 20,000,000 | ' | 20,000,000 | ' |
Common stock, shares outstanding | ' | ' | ' | ' | 126,698,000 |
Common stock, shares issued | ' | ' | ' | ' | 126,698,000 |
Minimum [Member] | ' | ' | ' | ' | ' |
Common stock, shares authorized | ' | 100,000,000 | ' | 100,000,000 | ' |
Preferred stock, shares authorized | ' | 10,000,000 | ' | 10,000,000 | ' |
Common stock, shares outstanding | ' | ' | ' | ' | 63,349,000 |
Common stock, shares issued | ' | ' | ' | ' | 63,349,000 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Estimated Useful Life of Property and Equipment (Details) | 3 Months Ended |
Mar. 31, 2014 | |
Computer Equipment [Member] | ' |
Useful Life | '3 years |
Website Design [Member] | ' |
Useful Life | '3 years |
Patents and Trademarks [Member] | ' |
Useful Life | '15 years |
Acquisition_of_Oil_and_Gas_Pro1
Acquisition of Oil and Gas Properties (Details Narrative) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | |||
Feb. 12, 2014 | Dec. 12, 2013 | Dec. 12, 2013 | Nov. 18, 2013 | Mar. 31, 2014 | Nov. 18, 2013 | |
April 12, 2014 [Member] | Ardmore And Pioneer Oil And Gas [Member] | Ardmore And Pioneer Oil And Gas [Member] | Ardmore [Member] | |||
acre | April 12, 2014 [Member] | |||||
Acres of oil and gas selling | ' | ' | ' | 5,905.54 | ' | ' |
Issuance of stock | ' | ' | ' | ' | ' | 250,000 |
Issuance of additional shares for transfer of ownership | ' | ' | ' | ' | ' | 250,000 |
Lease expiration date | ' | ' | ' | ' | ' | 12-Apr-14 |
Installment payment of acquire oil and gas | $100,000 | $100,000 | ' | ' | ' | ' |
Additional installment payment of acquire oil and gas | ' | ' | $100,000 | ' | $100,000 | ' |
Common_Stock_Details_Narrative
Common Stock (Details Narrative) (USD $) | 0 Months Ended | 3 Months Ended | 8 Months Ended | 12 Months Ended | 68 Months Ended | 12 Months Ended | 0 Months Ended | |||||||||||||||||||||
Apr. 24, 2014 | Mar. 25, 2014 | Mar. 10, 2014 | Feb. 14, 2014 | Dec. 18, 2013 | Dec. 19, 2013 | Nov. 20, 2013 | Nov. 01, 2013 | Jan. 03, 2012 | Dec. 14, 2011 | Dec. 04, 2008 | Nov. 28, 2008 | Mar. 19, 2009 | Mar. 31, 2009 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2014 | Dec. 20, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 20, 2013 | Mar. 31, 2014 | Dec. 20, 2013 | Mar. 31, 2014 | Oct. 02, 2013 | Mar. 06, 2014 | Mar. 31, 2014 | |
Private Placement [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | Mr John Barton [Member] | Mr John Barton [Member] | Third Party Entity For Consulting Services [Member] | Third Party Entity For Consulting Services [Member] | ||||||||||||||||||||
Common stock, shares authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | 100,000,000 | ' | 100,000,000 | ' | ' | 200,000,000 | ' | 100,000,000 | ' | ' | ' | ' | ' |
Preferred stock, authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | 10,000,000 | ' | 10,000,000 | ' | ' | 20,000,000 | ' | 10,000,000 | ' | ' | ' | ' | ' |
Common stock, par value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | $0.00 | ' | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, par value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | $0.00 | ' | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity stock split description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
every pre-split share of common stock is exchangeable for 32 shares of post-split common stock. | ||||||||||||||||||||||||||||
Reverse stock split | ' | ' | ' | ' | 'ratio of 1 for 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 63,699,000 | 53,024,000 | ' | 63,699,000 | ' | ' | ' | 126,698,000 | ' | 63,349,000 | ' | ' | ' | ' |
Common stock, shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 63,699,000 | 53,024,000 | ' | 63,699,000 | ' | ' | ' | 126,698,000 | ' | 63,349,000 | ' | ' | ' | ' |
Stock issued during period for reverse stock split | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,000,000 | 14,400,000 | 30,240,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reverse stock shares issuance price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1 | ' | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash received from stock split issued | ' | ' | ' | ' | ' | $150,000 | ' | $75,000 | ' | ' | $2,000 | $900 | $18,900 | ' | $375,000 | ' | ' | $396,800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares returned but unissued | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,872,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock issued during period for service, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 256,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' |
Purchase of issued and outstanding shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43.00% | ' | ' |
Stock issued during period for debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' |
Percentage of ownership after transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52.01% | ' | ' | ' |
Sale of stock during period, shares | ' | ' | 100,000 | 200,000 | ' | 150,000 | ' | 75,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for land lease assignment | ' | ' | ' | ' | ' | ' | 250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for land lease assignment, shares | ' | ' | ' | ' | ' | ' | 250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of stock during period | ' | ' | ' | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross proceeds on sale of private placement | 22,500 | 52,500 | 75,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90,000 | ' | ' | 90,000 | ' | 52,500 | ' | ' | ' | ' | ' | ' | ' | 37,500 |
Fair value of shares of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $37,500 |
Income_Taxes_Details_Narrative
Income Taxes (Details Narrative) (USD $) | 12 Months Ended |
Mar. 31, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Net operating loss carry forwards | $363,635 |
Operating loss carryforward expiration date | '2034 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Tax Expense Computed at Statutory Federal Tax Rate (Details) (USD $) | 12 Months Ended | 68 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Tax provision (benefits) computed at the statutory rate | ($108,000) | ($21,000) | ' |
Nondeductible expense | -700 | ' | ' |
Income tax expense benefit before increase in valuation allowance for deferred tax assets | -107,300 | -21,000 | ' |
Increase in valuation allowance for deferred tax assets | 107,300 | 21,000 | ' |
Income tax expense benefit | $0 | $0 | ' |
Income_Taxes_Significant_Compo
Income Taxes - Significant Components of Deferred Tax Assets (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Income Tax Disclosure [Abstract] | ' | ' |
Stock based compensation | $13,900 | ' |
Net operating loss carryover | 120,200 | 26,800 |
Total deferred tax assets | 134,100 | 26,800 |
Valuation allowance | -134,100 | -26,800 |
Net deferred tax assets | $0 | $0 |
Related_Party_Transactions_Det
Related Party Transactions (Details Narrative) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 | Oct. 02, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 3013 |
Chief Executive Officer [Member] | Chief Executive Officer [Member] | President [Member] | President [Member] | President [Member] | President [Member] | |||
Loan from Director | $10,118 | $44,690 | $31,525 | ' | ' | ' | ' | ' |
Outstanding loan amount settled through exchange of shares | ' | ' | 51,525 | ' | ' | ' | ' | ' |
Stock issued during period for consideration of settlement of debt, shares | ' | ' | 20,000 | ' | ' | ' | ' | ' |
Stock issued during period for consideration of settlement of debt | ' | ' | 10,000,000 | ' | ' | ' | ' | ' |
Compensation paid | ' | ' | ' | 45,000 | 10,000 | ' | ' | ' |
Accrued compensation | ' | ' | ' | 15,000 | ' | ' | ' | ' |
Salary accrued and reflected as expense | ' | ' | ' | ' | ' | 15,000 | 0 | ' |
Accrued salaries | ' | ' | ' | ' | $15,000 | $15,000 | ' | $0 |
Committments_and_Contingencies
Committments and Contingencies (Details Narrative) (April 12, 2014 [Member], USD $) | 0 Months Ended | 12 Months Ended | |
Dec. 12, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | |
Ardmore [Member] | Ardmore And Pioneer Oil And Gas [Member] | ||
Investment of additional shares for transfer of ownership | ' | 250,000 | ' |
Additional Installment payment of acquire oil and gas | $100,000 | ' | $100,000 |
Subsequent_Event_Details_Narra
Subsequent Event (Details Narrative) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 68 Months Ended | 0 Months Ended | 0 Months Ended | |||||||||||
Mar. 10, 2014 | Feb. 14, 2014 | Feb. 12, 2014 | Dec. 19, 2013 | Dec. 12, 2013 | Nov. 01, 2013 | Dec. 04, 2008 | Nov. 28, 2008 | Mar. 19, 2009 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 07, 2014 | Mar. 31, 2014 | Apr. 10, 2014 | Apr. 10, 2014 | Apr. 12, 2014 | |
Securities Purchase Agreement [Member] | Securities Purchase Agreement [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||||||||||
Securities Purchase Agreement [Member] | Land Lease Installment [Member] | Land Lease Installment [Member] | |||||||||||||||
Pioneer [Member] | Ardmore [Member] | ||||||||||||||||
Number of common stock issued | 100,000 | 200,000 | ' | 150,000 | ' | 75,000 | ' | ' | ' | ' | ' | ' | 100,000 | ' | 200,000 | ' | 250,000 |
Cash received from stock issued | ' | ' | ' | $150,000 | ' | $75,000 | $2,000 | $900 | $18,900 | $375,000 | ' | $396,800 | $75,000 | ' | $150,000 | ' | ' |
Common stock payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90,000 | ' | 90,000 | ' | 52,500 | ' | ' | ' |
Installment payment of acquire oil and gas | ' | ' | $100,000 | ' | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 | ' |